Ionic Consultancy Group Ltd www.icgroup.org.uk Good Morning ! Typical processes and services that financial services organisations have outsourced and how offshore BPO can act as a stimulator to growing UK operations Ionic Consultancy Group Ltd www.icgroup.org.uk Longest presentation title in history. How a phone conversation and throw away statement becomes a presentation title  Drill down a little on the type of services that are typically outsourced, the rationale behind any decision to outsource. Who ICG are and how we manage the process Graeme Mackenzie: Managing Partner Ionic Consultancy Group: +44 755 573 4517 / graeme@icgroup.org.uk

Quick Introduction WHAT DO WE DO ? From offices in London and Johannesburg, we take UK business operations and place / operate them offshore for you with specialist South African service providers Take away the pain and resource requirement

Across various and diverse industries Take away the pain and resource requirement

South Africa: the last 5 years ….. South Africa voted Global Sourcing Association offshoring destination of the year 2016 Infrastructure Talent Domain Skills Cost Culture Audit & Compliance Innovation DTI Support and Incentives Languages: English Spanish Portuguese German 35% Telecoms 15% Aviation 8% Retail 27% Finance & Insurance

FSP: Why South Africa ? UK companies are looking for alternatives to India and the Philippines – and are prepared to look for a higher quality service at same/similar cost UK business seeking to push ‘seats and services’ into SA using existing SA providers but fully serviced from the UK UK companies achieving cost saving of 30 – 55 % by outsourcing to SA Brexit has created uncertainty SA and the UK have a good cultural alignment: agent quality, similar time zone, regulatory alignment (FSCA and FCA) SA is seen as an innovator SA seen in the voice sector as ‘accent neutral’ ICG UK ICG SA

living the dream……. Outsourcing: Not Everybody’s Cup of Tea Why Outsource – Typical Thinking ? Outsourcing: Not Everybody’s Cup of Tea living the dream…….

living the dream……. Why Outsource – Typical Thinking ? Most Insurers, MGA’s, Brokers, Administrators, Advisors already outsourcing: * Tech * Security * Cleaning * Media * Digital * Compliance Most above outsourcing decisions above are managed within a due process in the business More sensitive when it comes to managing data or a customer Many financial services businesses margins are being squeezed Most financial services businesses are faced with the need to innovate and be creative: * Product design * Product delivery * Customer engagement Tier 1 financial services businesses have a history of outsourcing: reach, resource and experience. Tier 2 don’t living the dream……. Reality is most people are already outsourcing in some shape or form

About working smarter…….. Driver to outsource varies between a need to …. living the dream……. Access broad skills, knowledge and experience Access alternative and independent view to gain efficiencies Discover new thinking Benchmark in house operations Optimize / redeploy existing resources Remove the repetitive / manage the mundane Access time zone advantages Access strong performance management and culture Access new and innovative digital technologies Reduce / redeploy CAPEX Access scalable and agile workforce Access skills not resident in your business Test, learn and measure new programme and process change prior to roll-out Provide greater capacity to allow business expansion without the need for increased real estate or local resource Reduce costs / improved margin / improved service About working smarter……..

living the dream……. Not Just for the ‘Big Boys’ ‘We’re not big enough to outsource…….’ living the dream……. Not Just for the ‘Big Boys’ We don’t just operate with the big boys. Great innovation and drive in mid to small cap businesses

. Typically categorised into 5 areas of operations: What are UK FSP’s Outsourcing? . Typically categorised into 5 areas of operations: Multi channel marketing and communications Technology and media Internal administration (‘back office’) Customer / supplier facing administration Complex Most people default to this when thinking of services that could be outsourced

Multi Channel Marketing and Communications . What are UK FSP’s Outsourcing? Multi Channel Marketing and Communications . Most people default to this when thinking of services that could be outsourced

Voice Inbound or outbound: Overflow / out of hours Customer service What are UK FSP’s Outsourcing? Voice Inbound or outbound: Overflow / out of hours Customer service Complaint management Customer loyalty / retention Collections Lead generation Don’t have to be outsourcing 50 seats. Outsource 5 and aggregate Anything from PPI to smart meters

Technology and Media AI Search engine optimization What are UK FSP’s Outsourcing? Technology and Media AI Search engine optimization Social media optimization Web content Web analytics Web application development Software application development Live email / chat Content writing Digital Most people default to this when thinking of services that could be outsourced

Internal Administration What are UK FSP’s Outsourcing? Internal Administration Data management / mining / capture Document indexing and archiving Application processing and loading Document digitization Quality Assurance Documents & Data Most people default to this when thinking of services that could be outsourced

Customer / Supplier Facing Administration What are UK FSP’s Outsourcing? Customer / Supplier Facing Administration Claims (FNOL) Account verification and validation Account servicing Collections Documents & Data Most people default to this when thinking of services that could be outsourced

‘Complex’ Payroll Actuarial Accounting and finance What are UK FSP’s Outsourcing? ‘Complex’ Payroll Actuarial Accounting and finance Technical Most people default to this when thinking of services that could be outsourced

Onshore Partnership Most people default to this when thinking of services that could be outsourced

End with a quote…. Thank You “Working hard makes you feel good. Working smarter makes your success.”   Most people default to this when thinking of services that could be outsourced